Shares of Caterpillar (CAT) and Joy Global (JOY), which both make mining equipment, rose 2.1% and 3.7%, respectively.

U.K.-based Rio Tinto's iron ore shipments rose 2% vs. the same quarter in 2011, to 45.6 million tons, falling short of analyst estimates of 50 million tons.

Total iron ore mined during the quarter rose 10% vs. 2011 to 59 million tons. For the full year, Rio Tinto forecasts iron ore output of at least 250 million tons.

Copper output slid 18% from a year earlier, to 119,500 tons, vs. estimates of about 140,000 tons.

In aluminum, where Rio Tinto is one of the world's top producers, output fell 10% to 854,000 tons compared with the prior year's output.

Last month, Rio Tinto put its diamond mining business on the block, saying it wants to focus on expanding its iron ore, copper, uranium and other more profitable industries. Brokers valued the diamond business at about $2.4 billion. It mined 11.7 million carats of diamonds in 2011, roughly a third of the amount produced by Russia's Alrosa and De Beers.

BHP Billiton is also looking to get out of the diamond business and sell its Ekati mine in Canada.

It's also expected to report weather-related disruptions to its Australian iron ore mining operations Wednesday.

Shares of Caterpillar (CAT) and Joy Global (JOY), which both make mining equipment, rose 2.1% and 3.7%, respectively.

U.K.-based Rio Tinto's iron ore shipments rose 2% vs. the same quarter in 2011, to 45.6 million tons, falling short of analyst estimates of 50 million tons.

Total iron ore mined during the quarter rose 10% vs. 2011 to 59 million tons. For the full year, Rio Tinto forecasts iron ore output of at least 250 million tons.

Copper output slid 18% from a year earlier, to 119,500 tons, vs. estimates of about 140,000 tons.

In aluminum, where Rio Tinto is one of the world's top producers, output fell 10% to 854,000 tons compared with the prior year's output.

Last month, Rio Tinto put its diamond mining business on the block, saying it wants to focus on expanding its iron ore, copper, uranium and other more profitable industries. Brokers valued the diamond business at about $2.4 billion. It mined 11.7 million carats of diamonds in 2011, roughly a third of the amount produced by Russia's Alrosa and De Beers.

BHP Billiton is also looking to get out of the diamond business and sell its Ekati mine in Canada.

It's also expected to report weather-related disruptions to its Australian iron ore mining operations Wednesday.

See Also

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London's benchmark FTSE 100 index edged up to a new high Tuesday, topping its previous peak from December 1999. That left the gauge up 5.8% so far this year, rebounding after a volatile fourth quarter. The performance lags far behind Frankfurt's DAX, up 14.2% year-to-date, and Paris' CAC-40, with a ...

BHP Billiton (NYSE:BHP) on Tuesday reported a dip in half-year earnings and revenue, but profit topped expectations of analysts polled in a Wall Street Journal survey and the mining company raised its interim dividend. The Australian miner said half-year profit fell 47% to $4.27 billion but beat ...

Stocks were narrowly mixed in both the U.S. and Europe on Tuesday, as Federal Reserve chair Janet Yellen began her testimony before the Senate Banking Committee. The Dow Jones industrial average ticked up 0.1%. The S&P 500 dipped a fraction and the Nasdaq shed 0.2%. Volume was so far mixed on ...

Caterpillar's (NYSE:CAT) global retail sales for the three-month rolling period ended in January fell 14%, worse than December's 12% drop and November's 10% decline. The report followed the heavy-equipment maker's disclosure Wednesday that it had received a grand jury subpoena related to how it has ...

02/19/2015 01:27 PM ET

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